Research Analysts Set Expectations for Thermo Fisher Scientific Inc.’s Q2 2024 Earnings (NYSE:TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO) – Analysts at Leerink Partnrs reduced their Q2 2024 EPS estimates for shares of Thermo Fisher Scientific in a research note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst P. Souda now expects that the medical research company will post earnings of $5.19 per share for the quarter, down from their prior forecast of $5.20. The consensus estimate for Thermo Fisher Scientific’s current full-year earnings is $21.52 per share. Leerink Partnrs also issued estimates for Thermo Fisher Scientific’s Q3 2024 earnings at $5.46 EPS, Q4 2024 earnings at $5.99 EPS, FY2024 earnings at $21.75 EPS, Q1 2025 earnings at $5.62 EPS, Q2 2025 earnings at $5.88 EPS, Q3 2025 earnings at $6.12 EPS, Q4 2025 earnings at $6.63 EPS, FY2025 earnings at $24.26 EPS and FY2026 earnings at $26.94 EPS.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%.

TMO has been the subject of a number of other reports. Barclays raised their price objective on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group boosted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup began coverage on shares of Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price on the stock. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $606.76.

Thermo Fisher Scientific Stock Up 0.3 %

Shares of TMO opened at $573.60 on Friday. The firm has a market capitalization of $218.95 billion, a P/E ratio of 36.79, a P/E/G ratio of 2.44 and a beta of 0.80. Thermo Fisher Scientific has a 52 week low of $415.60 and a 52 week high of $603.82. The company has a 50-day simple moving average of $573.60 and a 200-day simple moving average of $529.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.39 and a current ratio of 1.70.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds have recently bought and sold shares of the company. Northwest Financial Advisors bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $29,000. True Wealth Design LLC raised its stake in shares of Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the period. LifeSteps Financial Inc. acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $31,000. Pineridge Advisors LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $39,000. Finally, Cape Investment Advisory Inc. lifted its position in Thermo Fisher Scientific by 52.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after buying an additional 26 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Debora L. Spar sold 164 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares in the company, valued at approximately $660,192.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Debora L. Spar sold 164 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the transaction, the director now directly owns 1,207 shares in the company, valued at approximately $660,192.79. The disclosure for this sale can be found here. In the last three months, insiders sold 50,277 shares of company stock valued at $28,513,384. 0.32% of the stock is currently owned by insiders.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.